Archos unveils a cryptocurrency hardware wallet

Archos, a French company known for its cheap Android phones, tablets and media players, is entering the cryptocurrency market with a hardware wallet. The company revealed earlier this week that it is gearing up to release a cryptocurrency hardware wallet called Safe-T mini.

Hardware wallets are used by the cryptocurrency holders to safely store their Bitcoins or Altcoins. Since the cryptocurrency private keys are created and stored locally on the device with a number a security mechanisms, they are much more secure than an online or software wallet.

Archos claims that Safe-T mini has been developed by the company’s own R&D division and to make sure everything is secure, it will be manufactured in France itself. The company stated that the Safe-T mini wallet will be available beginning June, 2018 at 49.99 euros ($61).

Archos Safe-T mini features and specifications

Generates and stores private keys on the wallet offline and prevents malicious parties from gaining access to the private key while the wallet is online.

All crypto operations are carried out on the device, offline.

Every transaction is displayed on the screen and must be physically approved using the buttons of the wallet.

It restrictively requires manufacturer software on the device while requesting the set-up of a PIN code to ensure that only the owner can access and use it.

Archos Safe-T mini will be competing with Ledger nano S and Trezor hardware wallets, which are massively popular in crypto-community. The only advantage for Archos is the price-tag of Safe-T mini, which is significantly lower than both Ledger nano S and Trezor.